Harvey Capital Management Inc. Cuts Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Harvey Capital Management Inc. lowered its holdings in Autodesk, Inc. (NASDAQ:ADSK) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,343 shares of the software company’s stock after selling 3,441 shares during the quarter. Autodesk accounts for about 1.3% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Harvey Capital Management Inc.’s holdings in Autodesk were worth $5,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional boosted its holdings in Autodesk by 7.6% in the third quarter. CX Institutional now owns 1,549 shares of the software company’s stock worth $427,000 after purchasing an additional 110 shares during the last quarter. Creative Planning lifted its holdings in shares of Autodesk by 6.3% during the 3rd quarter. Creative Planning now owns 40,030 shares of the software company’s stock valued at $11,028,000 after buying an additional 2,371 shares during the period. BDF Gestion boosted its stake in shares of Autodesk by 100.0% in the 3rd quarter. BDF Gestion now owns 34,226 shares of the software company’s stock worth $9,429,000 after buying an additional 17,113 shares during the last quarter. Asset Dedication LLC grew its holdings in shares of Autodesk by 87.9% in the third quarter. Asset Dedication LLC now owns 171 shares of the software company’s stock worth $47,000 after acquiring an additional 80 shares during the period. Finally, Wolff Wiese Magana LLC increased its position in Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after acquiring an additional 145 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

Autodesk Price Performance

Shares of Autodesk stock opened at $299.72 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $326.62. The stock has a 50 day moving average of $299.71 and a 200 day moving average of $282.64. The firm has a market cap of $64.44 billion, a PE ratio of 59.47, a PEG ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. On average, research analysts expect that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Barclays increased their price target on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird raised their target price on Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Hsbc Global Res lowered Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $333.77.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.